Bank of Japan Governor Ueda says monetary policy does seek not control forex rates ...Middle East

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Bank of Japan Governor Ueda says monetary policy does seek not control forex rates
Ueda is in the Diet, taking questions. Says monetary policy is aimed at impacting inflation, not the yen ratewill examine the impact of movement of the yen on the economyFX moves could have a big impact on the economy and prices, and so the impact of FX volatility could be bigger than in the pastBOJ does not seek to directly control FX rates with monetary policyFX moves are among various factors that affect the economy and pricesweak yen pushes up import costs, has an impact on the the economy in other ways, such as via demandthe Bank of Japan may need to respond via monetary policy if such impact for yen moves affects trend inflationwe expect trend inflation to gradually head towards 2%

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